Duty-free retailer Avolta to acquire Free Duty

Reuters09-24

Sept 24 (Reuters) - Swiss duty-free retailer Avolta

announced on Tuesday it would acquire 100% of Free Duty from Hong Kong based NWS Holdings .

The acquisition would be entirely funded with cash, with no equity or additional financing arrangements required, the company said in a statement.

Avolta shares were up 3.3% following the news.

(Reporting by Anastasiia Kozlova and Amir Orusov; editing by Matthias Williams)

((Anastasiia.Kozlova@thomsonreuters.com; Amir.Orusov@thomsonreuters.com))

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